PROL Explores Solar & Wind Power Alternative Energy; Feasibility & Exploration Studies in the Batan Coal Rich Island & Calatrava Crude Oil Rich Land
Friday October 5, 9:30 am ET
Philippines Royal Oil & Alternative Energy Co., Inc. (PROL) Engaged the Services of Jordan Richard Assoc., LLC, New Investor Relation Company
MANILA, Philippines--(BUSINESS WIRE)--Philippines Royal Oil & Alternative Energy Co., Inc. (OTC:PROL - News) also known as PhilOil announces that it has considered the exploration of other alternative energy that can transform water and wind into electrical energy supply and challenges into sustainable undertakings.
A representative of a German Solar/Wind Power Energy Co., Mr. Ed Sangue, an expert in the feasibility study, construction and installation of solar and wind energy, is working on a possibility of a joint venture with Philippines Royal Oil. On October 4, 2007, Mr. Sangue and President for Mindanao Operations Manolo Tecson of Pearl Asian Mining (PAIM) visited Gango mine site for the first possible location of this alternative energy project.
PROL will become the main distributor of this alternative energy in the country once the joint venture between this German Company and the Philippines Royal Oil is completed. PhilOil will be able to construct a solar and wind energy power plant to supply electricity to run the Gold Processing Plants for the Gango Gold Rush Mine Site and the Masbate XYZ Mine Site of Pearl Asian Mining Company.
Furthermore, Engr. Bernardo and his team again visited the rich coal island of Batan in order to determine the costs involved in developing this coal project. This includes the manpower requirements, the hauling costs from the mine site to the barge loading area, the availability of barge/tug boat having a capacity of 3,500 tons of coal per trip. Further discussions are now made for the finalization and completion of the feasibility studies, in order to start the operation in the Batan Island Coal Mine Project.
Another ambitious undertaking for Engr. Bernardo, a very experienced mechanical engineer, is to design a coal fired power plant to supply the electrical power requirements both for the XYZ Mine Site and the Gango Gold Rush Mine Site of Pearl Asian Mining (Stock Symbol: PAIM).
PhilOil will continue the feasibility and exploration activities with the Mondarte Family of Calatrava Negros Occidental. Engr. Bernardo is preparing a feasibility study on the possibility of refining crude oil and intends to make PhilOil the oil distributor for the whole Philippines Island as well.
Moreover, Philippines Royal Oil & Alternative Energy Co., Inc., commonly known as PHILOIL hires the professional services of Jordan Richard Assoc., LLC- The new professional Investor Relations Company to start on October 10, 2007.
"The new management team of PROL is envisioning to become the model and distributor of this solar and wind energy, as the source of electric power in our own gold mine sites in Bukidnon and Masbate Island," stated President/COO Ricardo Bernardo.
FORWARD STATEMENTS;
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding gold production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of reserves, mineral deposits and production costs; mining and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Philippines Royal Oil & Alternative Energy Co., Inc.
(Formerly Philippines Gold Mining Corp.)
Investor Relations:
Alice Navas, 678-570-6538 (USA)
Fax: 877-317-4430
pgmc88@hotmail.com
www.philippinesroyaloil.com
--------------------------------------------------------------------------------
Source: Philippines Royal Oil & Alternative Energy Co., Inc.
News 
Market Data 
Discover 
